To live or travel abroad, you need an emergency fund – here’s how to start one

At that point, I decided that having an emergency fund was no longer an option. International travelers should be especially mindful of where they keep their emergency savings, because of fees associated with currency exchange and accessing your cash. Luckily I had my emergency fund to fall back on in the meantime. Go through your bank and credit card statements and highlight all the membership services you might be willing to cancel. Consider putting the total into your emergency fund each mont


At that point, I decided that having an emergency fund was no longer an option.
International travelers should be especially mindful of where they keep their emergency savings, because of fees associated with currency exchange and accessing your cash.
Luckily I had my emergency fund to fall back on in the meantime.
Go through your bank and credit card statements and highlight all the membership services you might be willing to cancel.
Consider putting the total into your emergency fund each mont
To live or travel abroad, you need an emergency fund – here’s how to start one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: natalia lusinski, brooke frizzell
Keywords: news, cnbc, companies, need, emergency, card, abroad, start, bera, heres, money, fund, month, credit, savings, live, travel


To live or travel abroad, you need an emergency fund – here's how to start one

When I first moved abroad nearly three years ago as a freelancer, I had to deal with several expensive setbacks in quick succession. I lost a client. I had to get rid of most of my belongings and find a new place to live after getting bedbugs, which cost about $600. And I found myself in a Croatian emergency room. At that point, I decided that having an emergency fund was no longer an option. It was a necessity for someone living and working abroad. “An emergency fund is important because it helps you sleep at night knowing that if anything unexpected happens, you’ll have the money to cover it,” says Grant Sabatier, creator of Millennial Money and author of the book “Financial Freedom.” Most financial experts recommend setting aside three to six months worth of living expenses to cover unforeseen costs, yet nearly 30% of U.S. adults have no emergency savings, according to a 2019 survey from Bankrate. Having an emergency fund is arguably even more important if you want to travel, work or live in another country, because of how much it matters to have cash on hand for when things go wrong.

‘Having access to cash is important’

Sophia Bera, certified financial planner (CFP) and founder of Gen Y Planning, agrees that a strong safety net is crucial if you want to live, travel, or work abroad. In 2019, she spent four months running her company from South America, living and working abroad through a group travel program called Remote Year. “There are a lot of unexpected expenses that can come up while traveling abroad, and having access to cash is important,” Bera says. “Things like missed flights, unexpected delays, a crummy hotel, and going to the doctor can all result in overspending your travel budget.” International travelers should be especially mindful of where they keep their emergency savings, because of fees associated with currency exchange and accessing your cash. Bera recommends choosing the right accounts before you leave, including a credit card that doesn’t charge a fee for foreign transactions and a checking account that will reimburse you for ATM fees. Always make sure to carry back-up cards, too. A few years ago, I booked a ferry via a Skype call; next thing I knew, someone in the U.K. had charged over $600 worth of electronics on my card. Although my bank was able to quickly remedy the situation, it still took a few days to get the money back into my account. Luckily I had my emergency fund to fall back on in the meantime. While you’re traveling, watch out for situations where you credit card information could be recorded and stolen. Open Wi-Fi networks, unencrypted phone calls, and ATMs with card-skimming devices can all leave you open to identity theft. In the event that something like that happens, you’ll be glad to have an emergency credit or debit card ready to go while you freeze your other account. Also be aware of the potential limitations of credit cards. “Depending on where you are traveling, credit cards might not even be accepted,” says Samantha Gorelick, CFP at Brunch & Budget. So make sure you carry and have ready access to cash.

Video by David Fang

How to figure out how much money you’ll need — and how to get there

When determining how much money to put into your emergency fund, Bera says, you need to know what your expenses are and approximately how much you plan to spend each month — and how far that money will go based on where you are. As I found out, it’s much different budgeting for a month in Madrid versus a month in Reykjavík; recently, Iceland was ranked the most expensive country in Europe. If you have inconsistent income from freelancing or entrepreneurship, Bera notes, save more aggressively in the “good months” so you can pull from savings during times when your income is lower than you anticipate. Gorelick says the easiest way to build your savings is to redirect a portion of your direct deposit to your savings account with each paycheck. “You can start off small so you don’t feel like it is cutting into your budget too much,” she says. “Once it feels normal to put aside money each month, you can gradually increase your savings amount. The more you can automate this, the better.” You may well also have a gym membership or streaming service you don’t use. Go through your bank and credit card statements and highlight all the membership services you might be willing to cancel. Consider putting the total into your emergency fund each month, instead, since you were already spending that money anyway. When I moved abroad, I still had an Amazon Prime membership. I soon learned that some Amazon TV shows don’t have the capability to play abroad. That $15 a month was better spent going into my emergency fund. Just $20 can get you a room on Airbnb in Warsaw, for example, if you need emergency housing for a night.

Emergency funds can free up new opportunities


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: natalia lusinski, brooke frizzell
Keywords: news, cnbc, companies, need, emergency, card, abroad, start, bera, heres, money, fund, month, credit, savings, live, travel


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Wall Street expects Boeing to take another big, ugly charge on 737 Max. BofA estimates total cost of crisis as high as $20 billion

He estimates the total cost of the grounding could reach $20 billion — excluding any settlements from lawsuits from crash victims’ families — if the planes return by June or July. Epstein estimates that about 40% of Boeing’s profits last year came from the Max. That’s assuming the planes return to service in April, she said. Even the planned pause in production won’t stop the cash drain and will cost Boeing $1 billion a month, estimates J.P. Morgan. Suppliers are walking a tightrope with the 737


He estimates the total cost of the grounding could reach $20 billion — excluding any settlements from lawsuits from crash victims’ families — if the planes return by June or July.
Epstein estimates that about 40% of Boeing’s profits last year came from the Max.
That’s assuming the planes return to service in April, she said.
Even the planned pause in production won’t stop the cash drain and will cost Boeing $1 billion a month, estimates J.P. Morgan.
Suppliers are walking a tightrope with the 737
Wall Street expects Boeing to take another big, ugly charge on 737 Max. BofA estimates total cost of crisis as high as $20 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: leslie josephs
Keywords: news, cnbc, companies, service, boeing, high, estimates, max, wall, cost, ugly, return, epstein, crisis, month, total, billion, job, street, expects, planes


Wall Street expects Boeing to take another big, ugly charge on 737 Max. BofA estimates total cost of crisis as high as $20 billion

A year ago, Boeing posted record revenues topping $100 billion with hopes of delivering a chart-topping number of airplanes in 2019, including hundreds of 737 Max jetliners.

The news isn’t going to be so rosy on its fourth-quarter earnings call this year. Those bestselling planes were grounded worldwide in March after the second of two fatal crashes that claimed 346 lives. The crisis cost former CEO Dennis Muilenburg his job, prompted Boeing to suspend production of the planes, drove down orders to the lowest level in decades, hurt its supply chain, and wracked up costs that are now around $10 billion. Wall Street is expecting more bad news.

The Jan. 29 earnings call will be the first for new CEO Dave Calhoun, who took the helm on Monday, days after the company released a trove of shocking internal messages that showed employees dissing regulators and airlines and boasting about getting them to approve less time-consuming training. One showed employees complaining that Lion Air, the operator of the first 737 Max that crashed, wanted simulator training for pilots before they flew the planes.

Calhoun is tasked with cleaning up Boeing’s culture, improving employee morale and repairing damaged relationships with regulators and airlines.

“Many of our stakeholders are rightly disappointed in us, and it’s our job to repair these vital relationships,” Calhoun told Boeing employees on his first day. “We’ll do so through a recommitment to transparency and by meeting and exceeding their expectations. We will listen, seek feedback, and respond — appropriately, urgently and respectfully.”

Jeff Windau, industrials analyst at Edward Jones, said he hopes the call will shed some light on the company.

“It would be nice to get some candid comments,” he said. “I’m not expecting a date [of the return to service] but it would be nice to get some indication where they’re at.”

Several Wall Street analysts now expect Boeing, which reports full-year and fourth-quarter earnings on Jan. 29, to take additional charges related to the troubled airplane. The company took a $5.6 billion pretax charge in July to compensate airlines and other customers for the grounding, which is now in its 11th month.

“They’re going to have to pay more,” said Ron Epstein, aerospace analyst at Bank of America Merrill Lynch. He estimates the total cost of the grounding could reach $20 billion — excluding any settlements from lawsuits from crash victims’ families — if the planes return by June or July. Epstein estimates that about 40% of Boeing’s profits last year came from the Max.

Moody’s Investors Service said it was putting Boeing’s debt on a review for a possible downgrade, less than a month after cutting its credit rating by one-notch, as the crisis wears on longer than expected. The lower the credit rating, the more expensive it is for Boeing to borrow. Boeing, which declined to comment on a potential charge, has previously said it would tap the debt markets if it needs more cash to cover the costs of the crisis.

Sheila Kahyaoglu, aerospace and defense analyst at Jefferies, estimated this week that the charges for aircraft customers’ compensation is likely to rise to $11 billion, and that some of that will be reported later this month. That’s assuming the planes return to service in April, she said.

The Wall Street estimates for its earnings vary widely — from a loss of 23 cents a share to a profit of as much as $2.52 a share, according to analysts polled by Refinitiv. On average, analysts expect the Chicago-based company to report a profit of $1.53 a share — a 72% decline from a year earlier. They estimated a more than 26% drop in revenue to $20.8 billion.

Earlier this month, Boeing threw airline customers another curve ball: It’s recommending additional simulator training for pilots on the Max, a reverse of its previous stance and a step that promises to further delay the planes return to service and drive up costs.

As of Thursday, all U.S. airlines with Maxes in their fleets — American, Southwest and United — have pulled the planes from their schedules until early June, a delay that’s threatening to last until the peak travel season of late spring and the summer.

Analysts are also looking for news on how Boeing will manage its supply chain. Spirit Aerosystems, which makes fuselages and other parts for the planes, announced initial job cuts of 2,800 people last week. Moody’s downgraded its debt to junk territory.

Even the planned pause in production won’t stop the cash drain and will cost Boeing $1 billion a month, estimates J.P. Morgan.

“It doesn’t give you the warm and fuzzies when Spirit lays off 2,800 people,” said BofA’s Epstein. Suppliers are walking a tightrope with the 737 Max, because they don’t want to lack workers when Boeing can resume production. “It’s a tight job market and I’m sure there are a lot to companies that would like to hire them,” Epstein added.

Investors are also closely watching Calhoun for cues about Boeing’s bigger picture. The company has faced problems with its KC-46 refueling tanker. Because it’s hobbled by the 737 Max issues, Boeing hasn’t been able to move forward with a new middle-market airplane, giving a bigger lead to rival Airbus, which recently won orders for its forthcoming long-range, single-aisle plane from airlines including American and United. And the scrutiny of the Max could become more time consuming when regulators review its wide-body Boeing 777X.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: leslie josephs
Keywords: news, cnbc, companies, service, boeing, high, estimates, max, wall, cost, ugly, return, epstein, crisis, month, total, billion, job, street, expects, planes


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Job openings slide by more than half a million as the labor market tightens

Total vacancies tumbled by 561,000 to 6.8 million for the month, the lowest since February 2018, according to the government’s Job Openings and Labor Market Turnover Survey. Job openings plunged to their lowest level in nearly two years as hiring surged in November and the employment market got tighter, the Labor Department reported Friday. On an industry basis, the biggest drops in job openings came in retail, which decreased by 139,000, and construction, which was down 112,000. The quits rate


Total vacancies tumbled by 561,000 to 6.8 million for the month, the lowest since February 2018, according to the government’s Job Openings and Labor Market Turnover Survey.
Job openings plunged to their lowest level in nearly two years as hiring surged in November and the employment market got tighter, the Labor Department reported Friday.
On an industry basis, the biggest drops in job openings came in retail, which decreased by 139,000, and construction, which was down 112,000.
The quits rate
Job openings slide by more than half a million as the labor market tightens Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: jeff cox
Keywords: news, cnbc, companies, job, slide, tightens, million, openings, month, unchanged, rate, quits, half, total, nearly, labor, market


Job openings slide by more than half a million as the labor market tightens

The big decline in openings came during a month when nonfarm payrolls increased by 256,000 , the best total since January. Total hires increased by 39,000 though the rate was unchanged at 3.8%.

Total vacancies tumbled by 561,000 to 6.8 million for the month, the lowest since February 2018, according to the government’s Job Openings and Labor Market Turnover Survey. Despite the big drop, openings still outnumbered Americans considered unemployed by nearly 1 million. The vacancy rate nudged down to 4.3%.

Job openings plunged to their lowest level in nearly two years as hiring surged in November and the employment market got tighter, the Labor Department reported Friday.

On an industry basis, the biggest drops in job openings came in retail, which decreased by 139,000, and construction, which was down 112,000.

“Common sense should tell you that indeed, after an eleven-year run of economic growth that many companies have hired all the help they need for now,” Chris Rupkey, chief financial economist at MUFG Union Bank, said in a note. “Today’s sharp reduction in jobs available may be telling us that the economy has finally reached full employment.”

The quits rate, or the total employees who left voluntarily, rose for the month by 39,000, though the rate as a measure of workers stood unchanged at 2.3% from October. The quits rate is considered a strong gauge of worker mobility as it reflects confidence that employees can find other work.

Separations also were little changed, with a drop of 4,000 keeping the rate at 3.7%. Layoffs and discharges fell 46,000 and the rate declined to 1.1%.

Payroll growth tailed off in December, however, with the department’s first estimate showing 145,000 new jobs. The JOLTS data has a one-month lag, so December’s job openings are not available.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: jeff cox
Keywords: news, cnbc, companies, job, slide, tightens, million, openings, month, unchanged, rate, quits, half, total, nearly, labor, market


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Southwest pulls Boeing Max until June as airlines dig in for delays ahead of peak summer season

Southwest Airlines said Thursday it doesn’t expect the Boeing 737 Max to be included in its flight schedule until early June, following similar moves by American and United. Ahead of the peak summer travel season, the airlines face the likelihood that pilots will have to be trained on simulators before the jets return. Regulators, who ordered airlines to stop flying, have repeatedly said they have no firm timeline to approve the planes again for commercial flights. Southwest, which operates an a


Southwest Airlines said Thursday it doesn’t expect the Boeing 737 Max to be included in its flight schedule until early June, following similar moves by American and United.
Ahead of the peak summer travel season, the airlines face the likelihood that pilots will have to be trained on simulators before the jets return.
Regulators, who ordered airlines to stop flying, have repeatedly said they have no firm timeline to approve the planes again for commercial flights.
Southwest, which operates an a
Southwest pulls Boeing Max until June as airlines dig in for delays ahead of peak summer season Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: leslie josephs
Keywords: news, cnbc, companies, planes, peak, boeing, flights, southwest, dig, month, pilots, season, grounding, airlines, summer, flight, delays, max, pulls, service, jets


Southwest pulls Boeing Max until June as airlines dig in for delays ahead of peak summer season

Southwest Airlines said Thursday it doesn’t expect the Boeing 737 Max to be included in its flight schedule until early June, following similar moves by American and United.

Ahead of the peak summer travel season, the airlines face the likelihood that pilots will have to be trained on simulators before the jets return.

The problem has worsened for carriers because they had expected Boeing to deliver more jets at the time of the grounding last March, after the second of two fatal crashes that killed 346 people within five months. Regulators, who ordered airlines to stop flying, have repeatedly said they have no firm timeline to approve the planes again for commercial flights.

Boeing earlier this month said it would recommend pilots undergo simulator training before airlines start flying the planes again, a process that could further delay the Max’s return to service and one that promises to add to Boeing’s costs.

Southwest, which operates an all-Boeing 737 fleet — mostly older models — reached a compensation agreement last month with Boeing over the grounding, but it could receive more as the flight ban wears on.

Southwest is pulling the planes through June 6, an effort to “reduce last-minute flight cancellations and unexpected disruptions.” The Dallas-based carrier plans to remove 330 weekday flights from its peak-day schedules of more than 4,000 flights, 50 more flights than when it expected to have the planes back in service by early April.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: leslie josephs
Keywords: news, cnbc, companies, planes, peak, boeing, flights, southwest, dig, month, pilots, season, grounding, airlines, summer, flight, delays, max, pulls, service, jets


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here’s how your Social Security cost-of-living adjustment is calculated – and what it could look like in 2021

People line up outside the Social Security Administration office in San Francisco. Getty ImagesIf you collect Social Security benefits, you’re probably already eagerly waiting to see what your cost-of-living adjustment will be next year. New, early estimates from The Senior Citizens League, a nonpartisan senior group, point to a possible 1.5% COLA increase for 2021. Meanwhile, Social Security COLAs have averaged 1.4% in the past decade. How those adjustments are calculatedThe Social Security Adm


People line up outside the Social Security Administration office in San Francisco.
Getty ImagesIf you collect Social Security benefits, you’re probably already eagerly waiting to see what your cost-of-living adjustment will be next year.
New, early estimates from The Senior Citizens League, a nonpartisan senior group, point to a possible 1.5% COLA increase for 2021.
Meanwhile, Social Security COLAs have averaged 1.4% in the past decade.
How those adjustments are calculatedThe Social Security Adm
Here’s how your Social Security cost-of-living adjustment is calculated – and what it could look like in 2021 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: lorie konish
Keywords: news, cnbc, companies, social, 2021, security, increase, percentage, costofliving, cola, calculated, month, senior, administration, quarter, look, heres, workers, adjustment


Here's how your Social Security cost-of-living adjustment is calculated – and what it could look like in 2021

People line up outside the Social Security Administration office in San Francisco. Getty Images

If you collect Social Security benefits, you’re probably already eagerly waiting to see what your cost-of-living adjustment will be next year. New, early estimates from The Senior Citizens League, a nonpartisan senior group, point to a possible 1.5% COLA increase for 2021. In 2020, Social Security recipients got a 1.6% increase. For retired workers, that meant their average monthly benefit increased to $1,503 per month, up from $1,479 per month. Meanwhile, Social Security COLAs have averaged 1.4% in the past decade.

How those adjustments are calculated

The Social Security Administration generally announces its COLA in October for the following year. The amount is calculated based on the percentage change for the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W. That index comes from the Bureau of Labor Statistics at the Department of Labor.

To calculate the next year’s COLA, the Social Security Administration tracks data from the third quarter of the last year to the third quarter of the current year. Of note, it is not guaranteed there will be an increase from year to year. That is because the COLA is equal to the percentage increase in the CPI-W. If there is no increase, then the COLA is zero. Social Security checks did not go up in 2010, 2011 and 2016. Meanwhile, in other years, the COLA increase has been well above average. For 2019, the increase was 2.8%. And in 2009, beneficiaries saw a 5.8% bump.

How benefits could shape up in 2021


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: lorie konish
Keywords: news, cnbc, companies, social, 2021, security, increase, percentage, costofliving, cola, calculated, month, senior, administration, quarter, look, heres, workers, adjustment


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

This side hustle can earn you up to $3,840 a month in extra income. Here are 5 other lucrative gigs

Depending on your interests, there are plenty of ways to earn an extra dollar. Here are some side jobs could help get you achieve your money goals — and you can get started right now:1. Set your rates, availability, and the kinds of dogs your comfortable with and begin booking jobs with your smartphone. Once you’re set up, you’ll need to identify your preferred skill areas, set your rates, and availability. Glassdoor shows server rates range from $9 an hour on the lower end to $20 on the higher


Depending on your interests, there are plenty of ways to earn an extra dollar.
Here are some side jobs could help get you achieve your money goals — and you can get started right now:1.
Set your rates, availability, and the kinds of dogs your comfortable with and begin booking jobs with your smartphone.
Once you’re set up, you’ll need to identify your preferred skill areas, set your rates, and availability.
Glassdoor shows server rates range from $9 an hour on the lower end to $20 on the higher
This side hustle can earn you up to $3,840 a month in extra income. Here are 5 other lucrative gigs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: jessica militare
Keywords: news, cnbc, companies, earnings, dog, youre, set, average, need, platforms, services, extra, hustle, earn, 3840, month, rates, income, hour, lucrative, gigs


This side hustle can earn you up to $3,840 a month in extra income. Here are 5 other lucrative gigs

The reasons why someone would pick up a side hustle vary from one person to the next, whether they want more disposable income, need more money to cover expenses, are trying to pay off debt, or are aiming to build up savings. According to Bankrate, almost half of U.S. workers have a side gig outside of their regular job — and they spend an average of 12 hours per week on it. Depending on your interests, there are plenty of ways to earn an extra dollar. With any job it’s important to research the platform or company you’re gigging with, and to know your rights as an independent worker. Here are some side jobs could help get you achieve your money goals — and you can get started right now:

1. Professional organizing

2. Moving furniture

On-demand moving services like Dolly, Phlatbed, Buddytruk, Bellhops, and Lugg operate in cities across the country, and you can also search for local moving businesses. Bellhops and Lugg do not require you to have a truck or car for moving. To use these platforms, though, you will need a smartphone. You also must be able to lift heavier items ranging from 75 to 100 pounds. Onboarding processes vary but typically include an application, background check, and an orientation process. With most of these platforms, you can set your rates and schedule. Earnings: Lugg estimates movers can earn up to $2,500 a week. Movers with trucks can earn more per hour on some platforms. Dolly reports that their helpers who have transportation make $30 per hour, and hands, who assist the helpers, make $15 per hour.

3. Dog walking

You can sign up to be a dog walker, sitter, or boarder through a host of services, like Rover, Wag!, Barkly, and PetBacker. You can also search for locally owned pet care services in your area. The onboarding process is different for every service, but can be as simple as completing an application and passing an in-person harness and collar test — where you’re tested on putting different types of this equipment correctly on a plush dog. Set your rates, availability, and the kinds of dogs your comfortable with and begin booking jobs with your smartphone. You could also rent your outdoor space as a dog play area to pet owners through Sniffspot. Earnings: HomeGuide reports an average cost of $20 to $30 per 30-minute walk, and $30 to $60 per hour-long walk. Sniffspot estimates that some hosts earn more than $1,000 a month. As a dog walker, you can take home an average of $576 per week according to ZipRecruiter.

Video by David Fang

4. Household tasks

Get paid to help people out with home tasks like mounting photos and TVs, assembling furniture, repairs, organizing, and yard work. A few platforms like TaskRabbit, Handy, Thumbtack, and Porch offer a variety of services. Most require an application, background check, and orientation. Once you’re set up, you’ll need to identify your preferred skill areas, set your rates, and availability. Depending on the tasks you take on, you may need to invest in tools or cleaning supplies. Earnings: According to Indeed, an average salary for a handyman through Handy is $29.44 an hour, and the average salary for an assembler on TaskRabbit is $30 an hour. Keep in mind, though, that most of these platforms take a percentage of your earnings and the rates might vary based on your location.

5. Event catering

If you have a flexible schedule, food service experience, and are excited by the prospect of working weddings and events, give catering a try. Catering positions can include waitstaff, barbacks, and food runners. You can find jobs online and through contacting event companies in your area. Earnings: How much you can make depends on the employer, city, and the area in which you’re catering. More affluent areas or companies that do VIP events may be more lucrative. Glassdoor shows server rates range from $9 an hour on the lower end to $20 on the higher end. Tips can also come into play on top of hourly rates, but those are variable.

6. Mystery shopping


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: jessica militare
Keywords: news, cnbc, companies, earnings, dog, youre, set, average, need, platforms, services, extra, hustle, earn, 3840, month, rates, income, hour, lucrative, gigs


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

This free cash plan would pay you $1,320 per month and wouldn’t cost the government a cent

Yang’s platform helped get America talking about universal income again, but his plan is expensive. Now a think tank has laid out a universal basic income plan that would pay more than Yang’s and be zero cost to the government. (With Yang’s plan welfare and social program beneficiaries could choose to keep their benefits in lieu of receiving the cash payment, so number of adults receiving it could vary.) Pomerleau found that to work, Yang’s VAT would have to increase to 22 percent and the paymen


Yang’s platform helped get America talking about universal income again, but his plan is expensive.
Now a think tank has laid out a universal basic income plan that would pay more than Yang’s and be zero cost to the government.
(With Yang’s plan welfare and social program beneficiaries could choose to keep their benefits in lieu of receiving the cash payment, so number of adults receiving it could vary.)
Pomerleau found that to work, Yang’s VAT would have to increase to 22 percent and the paymen
This free cash plan would pay you $1,320 per month and wouldn’t cost the government a cent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: catherine clifford
Keywords: news, cnbc, companies, yangs, vat, pay, month, plan, cash, tax, universal, yang, cost, payment, pomerleau, wouldnt, income, free, cent, 1320


This free cash plan would pay you $1,320 per month and wouldn't cost the government a cent

Presidential candidate Andrew Yang raised $16.5 million in the fourth quarter of 2019 alone. While it’s much less than the $34.5 billion Vermont Sen. Bernie Sanders raised, for example, Yang’s campaign has become a surprise success based largely on one idea: giving Americans a $1,000 per month universal basic income payment. Yang’s platform helped get America talking about universal income again, but his plan is expensive. Now a think tank has laid out a universal basic income plan that would pay more than Yang’s and be zero cost to the government. Here’s what it would look like and who it could actually benefit.

Yang’s plan is expensive

While the idea of a cash payment for U.S. citizens over the age of 18 has catapulted Yang from virtual obscurity to a contender (though he’s not appearing in Tuesday night’s Democratic debate in Iowa), it’s very often met with the same criticism: It’s too expensive. According to one estimate, Yang’s universal basic income would cost $2.8 trillion a year — an estimated 236 million adult citizens in the United States multiplied by a $12,000 yearly payment. (With Yang’s plan welfare and social program beneficiaries could choose to keep their benefits in lieu of receiving the cash payment, so number of adults receiving it could vary.) To pay for the plan, dubbed the “freedom dividend,” Yang has proposed things like a 10 percent value-added tax (VAT) on the production of goods or services (the majority of countries already have a VAT), a higher capital gains tax and removing the Social Security tax cap. However those numbers don’t add up according to a July analysis of Yang’s plan by Kyle Pomerleau, then the chief economist and vice president of independent nonprofit Tax Foundation (now of the think tank American Enterprise Institute). Pomerleau found that to work, Yang’s VAT would have to increase to 22 percent and the payment would have to decrease to $9,000 per year or $750 per month.

(Yang’s campaign says “the Tax Foundation’s analysis makes some flawed assumptions” and does not take things like resulting economic growth from the payment into account, S.Y. Lee, national press secretary for Yang, tells CNBC Make It. Pomerleau, however, tells CNBC Make It that Yang’s campaign is unreasonably optimistic in the amount of revenue it hopes to get from the tax income on economic growth and about other revenue sources.)

There is a plan that won’t cost the government anything


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: catherine clifford
Keywords: news, cnbc, companies, yangs, vat, pay, month, plan, cash, tax, universal, yang, cost, payment, pomerleau, wouldnt, income, free, cent, 1320


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

GOP senator blasts Pelosi for trying to control the impeachment trial — ‘she just hates Trump’

GOP Sen. Rick Scott on Monday railed against what he calls the impeachment “circus” surrounding President Donald Trump, accusing House Speaker Nancy Pelosi of playing games. “She just hates Trump,” Scott said on CNBC’s “Squawk Box.” “Clearly what Pelosi has done is a circus, it’s a sham,” the Florida Republican added. Scott was referring to the speaker’s delay in sending to the Senate the two articles of impeachment passed by the House last month. The president has repeatedly denied any wrongdoi


GOP Sen. Rick Scott on Monday railed against what he calls the impeachment “circus” surrounding President Donald Trump, accusing House Speaker Nancy Pelosi of playing games.
“She just hates Trump,” Scott said on CNBC’s “Squawk Box.”
“Clearly what Pelosi has done is a circus, it’s a sham,” the Florida Republican added.
Scott was referring to the speaker’s delay in sending to the Senate the two articles of impeachment passed by the House last month.
The president has repeatedly denied any wrongdoi
GOP senator blasts Pelosi for trying to control the impeachment trial — ‘she just hates Trump’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trying, pelosi, senate, president, control, hates, gop, blasts, house, senator, scott, trump, important, playing, impeachment, trial, month


GOP senator blasts Pelosi for trying to control the impeachment trial — 'she just hates Trump'

GOP Sen. Rick Scott on Monday railed against what he calls the impeachment “circus” surrounding President Donald Trump, accusing House Speaker Nancy Pelosi of playing games.

“She just hates Trump,” Scott said on CNBC’s “Squawk Box.” “She said it was so important to get it done in December and didn’t have time to have witnesses come, and now she wants to tell us how to do the trial in the Senate.”

“Clearly what Pelosi has done is a circus, it’s a sham,” the Florida Republican added. “We should be doing things that are important, but we’re playing this game.”

A spokesperson for Pelosi did not immediately respond to CNBC’s request for comment.

Scott was referring to the speaker’s delay in sending to the Senate the two articles of impeachment passed by the House last month. She’s expected to send them this week.

The California Democrat’s delay was part of a strategy aimed at trying to force concessions out of Senate Majority Leader Mitch McConnell, including the ability to call witnesses.

McConnell, however, shut down that idea last week, telling reporters that he had enough votes to start the trial without a commitment to hear from additional witnesses.

“It’s frustrating to me,” Scott, a key ally of Trump, added. “The Democrats didn’t prove anything but that he is innocent.”

Trump was charged last month with abuse of power for asking Ukraine to investigate former Vice President Joe Biden while withholding aid as leverage, and with obstruction of Congress for stonewalling the House investigation.

The president has repeatedly denied any wrongdoing and is backed by Senate Republicans, who are unlikely to vote to remove the GOP president.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trying, pelosi, senate, president, control, hates, gop, blasts, house, senator, scott, trump, important, playing, impeachment, trial, month


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The extradition trial of Huawei’s CFO starts this month — here’s what to watch

Trevor Hagan | Bloomberg | Getty ImagesThe highly-anticipated extradition trial of Huawei’s Chief Financial Officer Meng Wanzhou kicks off on January 20. Meng’s extradition battle is one of the many headwinds Huawei faces in 2020. Meng’s extradition case has already become highly politicized. Just days after her arrest in 2018, President Donald Trump said he could intervene in Meng’s case if it helped secured a trade deal with China. The professor also pointed to a fraud case related to SNC-Lava


Trevor Hagan | Bloomberg | Getty ImagesThe highly-anticipated extradition trial of Huawei’s Chief Financial Officer Meng Wanzhou kicks off on January 20.
Meng’s extradition battle is one of the many headwinds Huawei faces in 2020.
Meng’s extradition case has already become highly politicized.
Just days after her arrest in 2018, President Donald Trump said he could intervene in Meng’s case if it helped secured a trade deal with China.
The professor also pointed to a fraud case related to SNC-Lava
The extradition trial of Huawei’s CFO starts this month — here’s what to watch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: arjun kharpal
Keywords: news, cnbc, companies, month, trial, case, huawei, watch, starts, mengs, meng, canada, provision, fraud, huaweis, cfo, tiberghien, extradition, heres, political


The extradition trial of Huawei's CFO starts this month — here's what to watch

Meng Wanzhou, chief financial officer of Huawei Technologies Co., leaves the Supreme Court in Vancouver, British Columbia, Canada, on Tuesday, Oct. 1, 2019. Trevor Hagan | Bloomberg | Getty Images

The highly-anticipated extradition trial of Huawei’s Chief Financial Officer Meng Wanzhou kicks off on January 20. Canada’s relationship with China — and with the United States — could hang in the balance. The case has been dragged into the politics of the U.S.-China trade war. Huawei has come under intense pressure from the U.S. government, which calls it a national security threat. Huawei has repeatedly denied those claims. Meng’s extradition battle is one of the many headwinds Huawei faces in 2020.

What’s Meng’s trial about?

Meng was arrested in Vancouver, Canada in December 2018. The U.S. charged Meng and Huawei with bank and wire fraud in violation of American sanctions on Iran.

The U.S. alleges that Meng lied to major banks including HSBC about Huawei’s relationship with a subsidiary in Iran called Skycom, in order to obtain banking services. Huawei denies any wrongdoing. In March 2019, Canada agreed to proceed with the U.S.’s extradition request.

What has happened since?

Since then, Meng’s lawyers have looked to end the extradition proceedings, laying out a number of arguments that will now be heard in court. There have been a handful of procedural court hearings regarding the timeline of events. And in December, Meng’s legal team won a ruling to obtain more documents relating to her arrest.

What happens next in Meng’s trial?

The actual extradition hearing kicks off on January 20 and is scheduled to end on January 24. It may not necessarily last that long. This court appearance will focus on the so-called “double criminality” argument put forward by Meng’s defense. Such an argument claims that the crime of which she is accused by the U.S. also needs to be a crime in Canada. Meng is accused of violating U.S. sanctions on Iran. Since Canada does not have sanctions on financial services in Iran, her legal team argues she can’t be extradited for alleged bank and wire fraud and conspiracy to commit bank and wire fraud. The double criminality is perhaps the most important argument in the case. “The biggest legal issue is whether the conditions for dual criminality are fulfilled … this is a requirement for the extradition to go forward and is the most critical issue,” Yves Tiberghien, a professor at the Department of Political Science at the University of British Columbia, told CNBC.

If the judge sides with Meng, the Huawei CFO could be released, or the prosecutors could appeal. If the double criminality argument does not prevail, then the hearings will proceed to a second phase in June. A decision may not come immediately, but could instead follow weeks later. That second hearing would focus on due process regarding Meng’s arrest. Her defense has argued that there was an abuse of process during her arrest by the Canada Border Services Agency (CBSA). In October, it was revealed that border officers took the passwords to Meng’s electronic devices and handed them over to the police. Lawyers for the Canadian government acting on behalf of the United States called this an “error.” Again, the extradition proceedings could be stopped on that point if the judges side with Meng. And again, the prosecution could appeal. If the judges decide against Meng, the case will move on the the third phase scheduled for September. That will focus on the sufficiency of the U.S. evidence against the Huawei executive.

Can Canadian politicians intervene?

Meng’s extradition case has already become highly politicized. Just days after her arrest in 2018, President Donald Trump said he could intervene in Meng’s case if it helped secured a trade deal with China. Last year, China arrested two Canadians — Michael Kovrig and Michael Spavor — accusing them of espionage. Those arrests prompted accusations that China was retaliating for Meng’s arrest. The Chinese government has repeatedly pressured Canada to release Meng. Canada Minister of Justice David Lametti has the power to step in and make a decision on the case before the hearings are done. However, experts say such a move is unlikely. “This provision has been rarely if ever used. Under common law, jurisprudence does matter. So, the fact that this provision was not used makes non-intervention a sort of political norm,” Tiberghien said. The professor also pointed to a fraud case related to SNC-Lavalin, a Canadian engineering firm. Prime Minister Justin Trudeau tried to get then-justice minister Jody Wilson-Raybould to intervene. She refused and was subsequently removed from the federal Liberal caucus. Tiberghien said there would be “political cost” for ministerial intervention in the Meng case. “The Chinese side knows about the provision in the law and has been cajoling or pushing Canada to use it,” said Tiberghien. “Under current conditions and the present moment, it is very unlikely that the government will use this provision because of the high political cost.”


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: arjun kharpal
Keywords: news, cnbc, companies, month, trial, case, huawei, watch, starts, mengs, meng, canada, provision, fraud, huaweis, cfo, tiberghien, extradition, heres, political


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post